Kraig Biocraft Laboratories Inc (KBLB)

[GTman1]

Burn rate has been running about $500K/month

Wrong.

It's unbelievable how rumors get spread and perpetuated.

The company had $43k in cash at the end of the Q3 2021. That was the last quarter before they received financing.

Over the last 2 years since, they've received $8 million in financing, with no other revenue or other means of capital (as we are constantly reminded).

At the end of Q3 2023, the company had $4.324 million left in cash.

So in the past 2 years, the ACTUAL cash burn was $3.719 million, or, $1.859 million per year, or, $155k per month.

Not to mention, the fact that we didn't receive the whole $8 million because of the transaction fees from.

Also of note, a large part of that capital expenditure was spent on the gene sequencing machines that needed to be shipped to prodigy. Those are a large one time expense. I'm not sure the exact model they bought but the ones in my lab cost about $800k a piece. And i'm guessing there's one in the Michigan lab as well.

This would give them an actual cash runway of at least a couple years at this burn rate. That's a couple years for them to realize revenues or cash from partnerships before they need to even think about financing again.

So please get the cash burn rates correct next time instead of perpetuating falsehoods.